This book rotated rather than broke this cycle. DBA flipped into a breakout regime, RSI climbing to 72.8 and price sitting essentially at its 52-week high — the standout move in the book. NTR, CF, DE, and MOO, last cycle's four strongest names, all cooled, while ADM, BG, and CTVA — the names flagged as cooling last scan — turned back up. MOS and FMC remain the two names to treat with caution: both are still negative over the trailing year, and both got measurably worse on that measure this cycle even as their RSI held up or ticked higher.

Data as-of the 2026-08-28 close for all ten names in the book — no staleness this cycle. The comparison baseline below is the August 22 scan.

This cycle is a rotation inside a still-healthy book rather than a broad move in either direction. DBA is the clear standout: its RSI climbed from 60.8 to 72.8, its regime flipped from basing to breakout, and it now sits essentially at its 52-week high (-0.03% from it). That's the most decisive single-name move in this book across the two cycles tracked here. Against that, the four names that led last cycle — NTR, CF, DE, and MOO — all cooled: NTR's RSI fell from 73.0 to 62.9 as its regime shifted from basing to pullback, CF fell from 63.9 to 57.0, DE from 62.4 to 54.9, and MOO from 70.7 to 65.3. None of the four broke down — all remain comfortably above their 200-day averages with positive trailing-year numbers (NTR +24.97%, CF +44.07%, DE +28.26%) — but the leadership inside the book clearly changed hands.

The names that cooled last cycle picked up the slack. ADM's RSI climbed from 48.8 to 53.7, BG's from 49.5 to 54.7, and CTVA's from 54.8 to 59.8 — all three moving the opposite direction from the book's prior leaders. This kind of rotation, where strength moves between names inside an otherwise stable book, is a healthier signal than either a broad melt-up or a broad cooldown would be on its own.

MOS and FMC remain the two names that need the trailing-year discount applied, and both got worse on that measure this cycle rather than better. MOS's RSI held reasonably firm at 55.4 (down modestly from 63.3), but its trailing year widened to -30.49% from -25.15%, and its alpha1y worsened to -50.36 from -46.96 — the annual trend is deteriorating even as the week looks unremarkable. FMC's regime actually softened from collapse to downtrend and its RSI ticked up slightly to 56.3, which on its own would read as relief — but its trailing year is still -71.18% with an alpha1y of -91.05, essentially unchanged from the weakest annual read in this entire scan set two cycles running. A softer regime label doesn't mean the annual trend has turned; treat FMC's move as a bounce inside a still-broken longer trend, not a repair.

• DBA: regime flipped basing → breakout; RSI 60.8 → 72.8, the largest RSI gain in the book; now sits essentially at its 52-week high.
• NTR: regime flipped basing → pullback; RSI 73.0 → 62.9; thesis still rated intact; still +24.97% over the trailing year.
• MOO: RSI 70.7 → 65.3, cooling from the top of the book but still tagged basing.
• CF: RSI 63.9 → 57.0; thesis still rated intact; still +44.07% over the trailing year.
• MOS: RSI 63.3 → 55.4; trailing year widened to -30.49% (was -25.15%); alpha1y worsened to -50.36 (was -46.96).
• DE: RSI 62.4 → 54.9; still +28.26% over the trailing year.
• CTVA: RSI 54.8 → 59.8, one of three names to turn back up this cycle.
• FMC: regime softened collapse → downtrend; RSI 53.7 → 56.3; trailing year essentially unchanged at -71.18%, still one of the weakest annual reads in this batch.
• BG: RSI 49.5 → 54.7, one of the names that cooled last cycle and turned back up this cycle.
• ADM: RSI 48.8 → 53.7, the same pattern as BG.

Regime labels describe chart structure, not a buy/sell call, and this cycle's shape — leadership rotating inside a book where every name still carries an RSI above 53 — is a healthier signal than either the broad melt-up flagged two cycles ago or a broad cooldown would be. DBA's breakout is the one name worth naming directly: fresh regime, fresh high, the clearest technical confirmation in this book right now. NTR, CF, DE, and MOO cooling from the top doesn't change their underlying trend — all four remain positive on the trailing year and above their 200-day, so this reads as digestion rather than weakness. MOS and FMC are the two names where the trailing-year check still matters most: both got worse on that measure this cycle, and FMC's softer regime label in particular should not be mistaken for its longer trend having turned.

Tier A — Confirmed strength, RSI 60+ (3): DBA (fresh breakout), MOO, NTR (thesis intact).

Tier B — Steady middle, RSI 53-60 (5): CTVA, CF (thesis intact), FMC (caveat — trailing year still weakest in the batch), MOS (caveat — trailing year widening), DE.

Tier C — Softest in the book, RSI 53-55 (2): BG, ADM — both turned up this cycle after cooling last time.

• Tape data (price/RSI/SMA/returns/1-year, SMA200): full-scan pre-computed summaries as of the 2026-08-28 close — food-security.